Home prices vary dramatically across Canada — from over $1.2 million in Vancouver to under $300,000 in smaller Prairie and Atlantic cities. Here is a comprehensive breakdown of average and benchmark home prices by city, along with context on what's driving prices in each market.
| City / Metro | Avg Price (All Types) | HPI Benchmark | YoY Change |
|---|---|---|---|
| Greater Vancouver | ~$1,200,000 | ~$1,173,000 | +2% to +4% |
| Greater Toronto Area | ~$1,100,000 | ~$1,065,000 | Flat to +2% |
| Ottawa | ~$650,000 | ~$627,000 | +3% to +5% |
| Calgary | ~$600,000 | ~$582,000 | +7% to +10% |
| Montreal | ~$550,000 | ~$528,000 | +4% to +6% |
| Halifax | ~$470,000 | ~$455,000 | +3% to +5% |
| Edmonton | ~$430,000 | ~$408,000 | +8% to +12% |
| Victoria | ~$920,000 | ~$896,000 | +2% to +4% |
| Hamilton | ~$750,000 | ~$728,000 | Flat to +2% |
| Winnipeg | ~$360,000 | ~$348,000 | +4% to +6% |
| City | Avg Price | Notes |
|---|---|---|
| Toronto (city proper) | ~$1,050,000 | Condos avg ~$700K, detached ~$1.5M+ |
| Mississauga | ~$975,000 | Strong condo market |
| Brampton | ~$850,000 | Semi-detached popular |
| Hamilton | ~$750,000 | Commuter city, saw large run-up |
| Kitchener-Waterloo | ~$700,000 | Tech corridor driving demand |
| London | ~$620,000 | Stable growth, university city |
| Ottawa | ~$650,000 | Government employment base |
| Barrie | ~$650,000 | GTA commuter suburb |
| Windsor | ~$430,000 | Among more affordable Ontario cities |
| Sudbury | ~$360,000 | Northern Ontario, more accessible |
| Thunder Bay | ~$290,000 | Lower prices, slower market |
| Sault Ste. Marie | ~$270,000 | One of Ontario's most affordable |
| City | Avg Price | Notes |
|---|---|---|
| Vancouver (city) | ~$1,300,000+ | Detached avg over $2M in many areas |
| Burnaby | ~$1,150,000 | Condos and townhomes popular |
| Surrey | ~$950,000 | Largest city by area in Metro Van |
| Victoria | ~$920,000 | Strong lifestyle demand |
| Kelowna | ~$760,000 | Okanagan market, retiree/remote worker demand |
| Abbotsford | ~$780,000 | Fraser Valley, commuter city |
| Prince George | ~$420,000 | Northern BC, more affordable |
| Kamloops | ~$550,000 | Interior BC |
| City | Avg Price | Notes |
|---|---|---|
| Calgary | ~$600,000 | No provincial income tax, strong job market |
| Edmonton | ~$430,000 | More affordable than Calgary |
| Red Deer | ~$340,000 | Central Alberta |
| Lethbridge | ~$310,000 | Southern Alberta, growing |
| Grande Prairie | ~$330,000 | Northern Alberta |
| City | Avg Price | Notes |
|---|---|---|
| Winnipeg, MB | ~$360,000 | Stable, affordable market |
| Saskatoon, SK | ~$350,000 | Potash economy, steady growth |
| Regina, SK | ~$295,000 | Among Canada's most affordable capitals |
| Halifax, NS | ~$470,000 | Large run-up post-2020, stabilizing |
| Moncton, NB | ~$300,000 | Fastest growing city in Atlantic Canada |
| Fredericton, NB | ~$290,000 | Government and university city |
| Saint John, NB | ~$255,000 | One of Canada's most affordable cities |
| Charlottetown, PEI | ~$380,000 | Grew rapidly, island supply constraints |
| St. John's, NL | ~$330,000 | Atlantic Canada, oil-dependent economy |
Average prices blend all property types. In Toronto and Vancouver, the gap between property types is enormous:
| Type | Toronto Avg | Vancouver Avg |
|---|---|---|
| Detached house | ~$1,500,000+ | ~$2,100,000+ |
| Semi-detached / row | ~$1,050,000 | ~$1,400,000 |
| Townhouse | ~$900,000 | ~$1,100,000 |
| Condo apartment | ~$700,000 | ~$780,000 |
Cities with strong, diversified economies — Toronto (finance, tech), Vancouver (trade, tech), Calgary (energy) — command premium prices because demand is sustained by high incomes and continuous in-migration.
Vancouver is constrained by mountains, ocean, and the US border. Toronto is surrounded by the Greenbelt. These physical and regulatory limits on buildable land restrict supply and support prices.
Canada's immigration is heavily concentrated in a few metros. Toronto and Vancouver together absorb the majority of newcomers, sustaining demand even as local buyers are priced out.
In Toronto and Vancouver, investor-owned units (including short-term rentals) represent a significant share of stock. In smaller cities, this is less of a factor.
If homeownership is a priority and location is flexible, these cities offer the best combination of affordability and quality of life:
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